HitecVision invests in Core Energy

26. November 2010

HitecVision, the leading oil and gas focused private equity investor, announced today an agreement to provide an equity line of USD 150 million to the independent oil and gas company Core Energy AS.

"This initial equity funding from such an experienced investor as HitecVision puts us in a unique position to pursue and accelerate our growth strategy. HitecVisions's investment team has a proven track record within the E&P business, successfully taking both Revus Energy and Noreco from start-ups to listed companies with extensive and attractive license portfolios in just a few years, and more recently contributing to a highly successful business in Spring Energy. We look forward to growing Core Energy with the support of HitecVision", states CEO Jan H. Solstad. "The founders of Core Energy have on average more than 20 years of experience working with the oil and gas industry, and we are impressed with their previous achievements and broad pool of expertise. This is a team with high ambitions, eager to pursue what we regard as a very interesting business idea and strategy", says Harald Vabø Senior Partner at HitecVision. “In addition HitecVision is also continuing its engagement with the highly successful Spring Energy team, focusing in the early phase of the value chain.”

Contact details

Visiting address:
Rosenkrantzgate 16, N-0160

Postal address:
P.O. Box 1489 Vika, N-0116 Oslo

Phone: +47 24 04 54 80

E-mail address: post@coreenergy.no